Commerce Interview Questions and Answers

Posted On:August 12, 2019, Posted By: Latest Interview Questions, Views: 125, Rating :

Best Commerce Interview Questions and Answers

Dear Readers, Welcome to Commerce Interview Questions and Answers have been designed specially to get you acquainted with the nature of questions you may encounter during your Job interview for the subject of Commerce. These Commerce Questions are very important for campus placement test and job interviews. As per my experience good interviewers hardly plan to ask any particular questions during your Job interview and these model questions are asked in the online technical test and interview of many IT companies.
 

1. What is commerce and its types?

Commerce is concerned with facilitating the exchange of goods and services in the economy. It is sub-classified as trade and auxiliaries to trade. Many think that trade and commerce are the same terms and can be used interchangeably. But the fact is both the terms are different from each other and carry different meanings.
Commerce Interview Questions

2. Into How Many Departments Is Commerce Mainly Divided Into? Which Are They?

Into two.
 
They are:
Trade
Aids of trade
 

3. The Trade Is Sub Divided Into Two Divisions, Which Are They?

Home trade and Foreign trade.
 

4. Into How Many Divisions The Home Trade Is Divided?

Into two they are, Whole sale and retail
 

5. Which Are The Two Divisions Of Whole Sale?

They are import trade and export trade
 

6. When Did The Commerce Begin To Grow?

It is began to grow only after the division of labour and development of exchange. Once it started growing, it spread its invisible thread throughout the length and breadth of the world.
 

7. What Is A Company?

A company is an incorporated association which is an artificial person, having an independent legal entity, with a perpetual succession, a common seal, a common capital comprised of transferable shares and carrying limited liability.
 

8. What Is Audit?

An audit may be said to be such an examination of books, accounts and vouchers of a business, whether it is in a proper manner for the financial period.
 

9. What Is The Minimum Number Of Directors In A Public Company?

Atleast two directors
 

10. What Is Public Sector?

Central government, local authorities and the public corporations that run nationalized industries.
 

Latest Commerce Interview Questions and Answers pdf

11. What Is Plant Layout?

Plant layout means the arrangement and location of different departments and of the machinery and equipment within a department
 

12. What Is Protocol?

The minutes or records of a diplomatic conference; especially a note of agreement on a subsidiary matters which supplements a treaty.
 

13. What Is Mortgage?

It is a transaction by which land or any other property may be given as security for repayment of a loan
 

14. What Is Loan?

Something lent for the borrower’s temporary use, especially money lent with conditions about repayment and the payment of interest
 

15. What Is An Account?

An account is a book-keeping device used in summarizing the increases and decreases in each asset or equity item
 

16. What Is A Balance Sheet?

It is the statement of account which is prepared at the end of every financial year. It gives the total picture of business at the point of time.
 

17. What Is Business?

Business is the sum of activities comprising buying and sellinggoods, manufacturing goods or providing services inorder to make profit.
 

18. What Is Guarantor?

A person who promises that if a second fails to fulfill some obligation, then he will fulfill it instead or pay money upto a specified limit to compensate for any loss caused by the second person’s failure
 

19. What Is Quoted Price?

It is the price of a share commodity as stated in the official list of the stock exchange commodity market.
 

20. What Is Share?

A unit for reckoning investors interests in the contributed capital of a company.
 

Real Time Commerce Interview Questions

 

21. What Is The Other Name For Creditorship ?

securities Debentures
 

22. Who Is Called An Arbitrator?

A person chosen by the parties to a dispute to suggest a way of settling the dispute
 

23. What Is A Capital?

The tangible resources of a person or organization, including cash, machinery, land, building, raw material etc. are called capital
 

24. Who Is Sleeping Partner?

A partner who contributes capital but will not take partin business activities is called a sleeping partner.
 

25. When Did The Government Institute The Companies Amendment Act?

In February 1963.
 

26. What Is Debit?

It is the term using in double entry book keeping for an entry made on the left-hand side of an account
 

27. Who Is A Floor Trader?

A person, usually a member of the stock exchange entitled to trade on the floor of that exchange is called floor Trader
 

28. What Is Liquid Asset?

 
The asset of the business which comprises cash or item which can easily and quickly be converted into cash within a period of one year
 

29. Name The Brand Mark Which Has Legal Restrictions?

Trademark
 

30. What Is Stock Market?

An organized market for securities. Also called a ‘stock exchange’
The tangible resources of a person or organization, including cash, machinery, land, building, raw material etc. are called capital
 

Commerce Interview Questions and Answers freshers & Experienced

31. What Is Tap?

A large quantity of securities held by some one who is able to sell to any one who wants to buy is called a tap.
 

32. What Is Value Added Tax(v.a.t.)?

The principle of V.A.T. is that tax is levied at each stage of the production of goods or services and on the value added at each stage of the production
 

33. What Is Vital Statistics?

It is the statistics concerned with births, deaths, ages, health, marriages, diseases etc…
 

34. What Is Gratuity?

A gift given especially of a small sum of money given in response to ther service received or anticipated
 

35. What Is Gross National Product (g.n.p)?

It is the total value of all goods and services that are produced by the people of a specified country in an year
 

36. What Is Wage?

It is the remuneration paid to the operative staff whoe output can be directly in an year
 

37. What Is A By-product?

A commonly which can be sold, produced in the process of manufacturing the main product.
 

38. Which Is Called A Barometer Of Financial Health Of A Country?

Stock-Exchange
 

39. A Document Issued By A Vendor Giving Credit To The Debtor Is Called......

Credit note
 

40. What Is The Term Used With Reference To Assurance Policies?

Endowment
 

41. What Is Petty Cash?

A small fund of cash held by an institution which is used to make small and urgent payments
 

42. Who Are Entitled To Take Part In The Control And Management Of Business In A Company?

The board of directors elected by the shareholders
 

43. In A Company Who Is Responsible For Considering The Legal Aspects Of Company Activities?

The company secretary
 

44. What Is Subsidy?

It is a method adopted by the government or a company of supporting a price
 

45. Which Audit Is Conducted Only Once In A While And That Also When The Client Desires?

Occasional audit
 

46. The Bailment Of Goods As Security For Payment Of A Debt Is Called.......

Pledge
 

47. The Selection Of Goods Offered For Sale By A Retailer Is Called........

Assortment
 

48. What Is A Person Or Party To Whom An Assignment Is Made Called?

Assignee
 

49. What Is The Main Distinction Between An Auditor And An Accountant?

It is the duty of the auditor to prepare the accounts, The accounts has to be prepared by the accountant where as the auditor is concerned with the detailed and critical examination of the account book.
 

50. What Is Syndicate?

A group of people working together towards a common objective usually profit is called a syndicate.